PT Widodo Makmur Unggas ready to offer 34 percent of shares with an emission value of around Rp2 trillion (US$139.86 million) - Photo by the Company

JAKARTA (TheInsiderStories) – Food and feed mill producers, PT Widodo Makmur Unggas (WMU) ready to offer 34 percent of shares (IPO) with an emission value of around Rp2 trillion (US$139.86 million). Its parent company, Widodo Makmur Perkasa Group, engaged in integrated chicken farming, is also planning an IPO in 2021 with the same target values.

The company founded by Tumiyana, former President Director of PT Wijaya Karya Tbk (IDX: WIKA), has appointed underwriters for the planned IPO, namely PT Danareksa Sekuritas, PT CGS-CIMB Sekuritas, and PT Samuel Sekuritas Indonesia. WMU aims to get an IPO in October this year while its parent in 2021.

“As for Widodo Makmur Poultry up to now we have not yet received documents for recording applications and we await and welcome the company’s IPO plan,” said Director of Corporate Appraisal of the Indonesia Stock Exchange (IDX) I Gede Nyoman Yetna, told the media last week.

The Jakarta-based company has eight animal husbandry locations spread across the island of Java. Recently, the company has signed a memorandum of cooperation and work order with an affiliate of Fuji Electric Group from Japan to build a feed mill factory in Ngawi, East Java, worth of Rp650 billion.

The construction of this feed mill, according to Tumiyana, is also one of the strategic initiatives prepared by the company ahead of Widodo Makmur Perkasa’ plan to enter the stock exchange through an IPO next year. “We have plans for the IPO Widodo Makmur Perkasa Holding in 2021. It’s time to grow even bigger,” he said last July.

The construction of the factory is planned to take 1.5 years. This plant will stand on an area of ​​12 hectares with a capacity of 140 tons per hour. He targeted the first phase of construction to be completed in 2021. He added, the construction of the factory was to meet the company’ poultry feed needs which reached 50,000 tons per month.

Widodo Makmur Perkasa has been established since 1995 ago. In 1999, the development of cattle fattening was so rapid that the business center was moved to Jakarta and established the company with an initial import of 1,500 cattle from Australia. In 2002, the company pioneered the property and investment business and in 2003, was registered as Widodo Makmur Perkasa.

Furthermore, the company expanded in 2006 by establishing a livestock feed business line under the banner of PT Pasir Tengah and starting operations by building an integrated cattle farm in Cianjur, West Java. In 2015, the property business line was released under the banner of PT Langgeng Makmur Perkasa by launching the Apartement Wismaya Residence product in Bekasi, West Java.

In 2017, the poultry business line through WMU began to move in the poultry business starting from the business of breeding, hatchery, chicken feed production and farming business as well as chicken slaughterhouses in Jambakan, Klaten.

In the same year, the energy business line will begin with the activities of PT Widodo Makmur Prima Energy, which is engaged in oil and gas exploration in collaboration with third parties.Then, the company established PT Widodo Capital Indonesia which was prepared to run a financial and investment management business.

Yetna said, 20 companies will take the floor on the IDX in the second half of this year, consisting of seven companies in the trade, service and investment sectors. Then, five companies from the property sector, real estate and building construction. And, eight companies engaged in the agriculture, basic industry and chemical, financial, and consumer goods industries.

US$1: Rp14,300

Written by Editorial Staff, Email: theinsiderstories@gmail.com